Bank of America is one of the nation’s largest bank mortgage lenders. As of the first quarter of 2011, Bank of America is the second largest bank in the U.S. measured by total assets and one of the top five mortgage lenders. As of mid February, Bank of America mortgage rates have pulled back dramatically as bond prices have risen and interest rates have fallen.

Bank of America offers a wide range of home financing products from FHA loans to Jumbo loans as well adjustable rate mortgages and standard fixed rate home mortgages. As of February 22, 2011 Bank America mortgage rates for some of the most popular loan types includes the following rates, points and APRs:

30 year mortgage rate is at 4.875% with 0.50 points and an APR of 4.969%
20 year mortgage rate is at 4.750% with 0.75 points and an APR of 4.908%
15 year mortgage rate is at 4.125% with 1.375 points and an APR of 4.419%
10 year mortgage rate is at 4.125% with 0.00 points and an APR of 4.284%

For those home loan borrowers interested in an adjustable rate mortgage, Bank of America mortgage rates on a five year ARM is at 4.875% with 0.875 points and an APR of 3.248%.

A 30 year interest only mortgage has an interest rate of 5.375% with 1.50 points and an APR at 5.542%.

A 30 year jumbo home loan has a mortgage rate of 5.625% with 1.25 points and an APR of 5.762%.

The Bank of America mortgage rates listed are for a single family home based in Illinois with a 20% down payment and good credit. Additional mortgage rates and point options are available. Bank America mortgage rates are available for other states and regions.

Bank of America mortgage rates will fluctuate with market conditions and will vary based on the terms of the loan requested and property location.

Prospective home loan borrowers can visit a Bank of America location to apply for new home loan, apply over the phone or through the bank’s website with online mortgage application. For more information on Bank of America mortgage rates and home loan products not listed the mortgage division of the bank can be reached at 800-586-9861.

For additional mortgage rates and resources please see 30 year mortgage rates, 15 year mortgage rates, 20 year mortgage rates, FHA mortgage rates or jumbo mortgage rates.

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